From: Gavin Andresen <gavinandresen@gmail•com>
To: Alex Morcos <morcos@gmail•com>
Cc: Bitcoin Dev <bitcoin-development@lists•sourceforge.net>
Subject: Re: [Bitcoin-development] Reworking the policy estimation code (fee estimates)
Date: Tue, 28 Oct 2014 10:58:36 -0400 [thread overview]
Message-ID: <CABsx9T2ET_Guoa8J-9irjwOo7vN+9Y3TyEUhdDBWxaYKV1J95w@mail.gmail.com> (raw)
In-Reply-To: <CAPWm=eX0MMBOPvugETxq+pyDzZ00xc90hZAJe8qgg4Shftm-9w@mail.gmail.com>
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On Tue, Oct 28, 2014 at 10:30 AM, Alex Morcos <morcos@gmail•com> wrote:
>
> Do you think it would make sense to make that 90% number an argument to
> rpc call? For instance there could be a default (I would use 80%) but then
> you could specify if you required a different certainty. It wouldn't
> require any code changes and might make it easier for people to build more
> complicated logic on top of it.
>
RE: 80% versus 90% : I think a default of 80% will get us a lot of "the
fee estimation logic is broken, I want my transactions to confirm quick and
a lot of them aren't confirming for 2 or 3 blocks."
RE: RPC argument: I'm reluctant to give too many 'knobs' for the RPC
interface. I think the default percentage makes sense as a
command-line/bitcoin.conf option; I can imagine services that want to save
on fees running with -estimatefeethreshold=0.5 (or
-estimatefeethreshold=0.95 if as-fast-as-possible confirmations are
needed). Setting both the number of confirmations and the estimation
threshold on a transaction-by-transaction basis seems like overkill to me.
--
--
Gavin Andresen
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next prev parent reply other threads:[~2014-10-28 14:58 UTC|newest]
Thread overview: 9+ messages / expand[flat|nested] mbox.gz Atom feed top
2014-10-27 19:33 Alex Morcos
2014-10-28 9:55 ` Mike Hearn
2014-10-28 12:12 ` Alex Morcos
2014-10-28 13:59 ` Gavin Andresen
2014-10-28 14:30 ` Alex Morcos
2014-10-28 14:55 ` Alex Morcos
2014-10-28 14:58 ` Gavin Andresen [this message]
2014-10-28 15:39 ` Alex Morcos
2014-10-29 20:08 ` Peter Todd
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